Thursday 28 July 2016

BAR REPLAY - 05APR2016

BIG PICTURE

  • PRICES ARE IN UP TREND SINCE LAST 1 MONTH.
  • PREVIOUS DAY'S DAILY CANDLE IS IN RALLY MODE.




















TRADING DAY BAR REPLAY

  • 10:00 - PRICES OPENED BELOW PDL, THEN MOVED BACK INTO PREVIOUS DAY'S RANGE FORMING A NARROW RANGE AT THIS LEVEL. IRH FORMED.
  • 10:34 - PRICES MOVED DOWN THROUGH PDL. DO IS HOLDING.
  • 11:13 - 60 POINT RED CANDLE HAPPENED AT 11:00 SIGNIFYING STRENGTH IN DOWN MOVE.
  • 11:16 - IRL HAS ACTED AS FLIP SINCE MORNING. NOW THERE IS BOF FROM THERE. ENTERING SHORT. E - 7734, ISL - 7746.
  • 11:20 - TRADE FILLED.
  • 11:23 - PRICES ARE AT BRN 7700. CONSIDERING MOVE HAPPENED WITHOUT ANY PULLBACK, WILL NOT EXIT TRADE, BUT MOVE SL TO 7726 ABOVE LAST CANDLE HIGH.
  • 11:29 - PRICES PIERCED THROUGH BRN 7700, BUT STALLING AT DL BY FORMING LONG WICK. MOVING SL TO BRN 7700.
  • 11:37: TSL HIT.
  • 12:23 - PRICES ARE STALLING AT DL. HOWEVER, PRICES HAVE ALREADY MOVED BY 100 POINTS, THEREFORE NOT CONFIDENT OF GOING SHORT FROM HERE.
  • 13:32 - DOWN MOVE HAS LOST MOMENTUM. DOUBLE BOTTOM HAS FORMED. DL AND RN ARE HOLDING. GOING LONG ABOVE FLIP 7660.
  • 13:35 - TRADE FILLED. E - 7661. ISL - 7644.
  • 13:59 - ISL HIT.
  • 15:30 - DID NOT TAKE BOF OF FLIP THINKING DOWN MOVE HAS BEEN EXHAUSTED.




1 comment:

  1. Guru

    When prices are going down right from the open, why do you want to go long at the place where there is no DP. It is regarding your second trade.

    Just before 3 pm, it gave nice BOF of Range high/flip. You could have taken that.

    URD

    ReplyDelete